mortgage advice please

mid99999

Hi all,
just a little background first, I currently have a fixed rate for 10 years at 5.15% with 5 years remaining. 30k interest only (endownment to repay in 5 years I have already converted some to repayment so it will cover the 30k.) 37k is repayment total of 67k with a 1.5k mortgage exit fee. I have 10 years remaining to repay my repayment in full.

I have had a look around at various rates and have found one that suits but they accept repayment only and will not allow part and part.
the question i have is ..

if i did a 5 year fixed all repayment over say 15 years to keep the payments around the same figure then at the end of the fixed period paid 30k off the mortgage in one sum then continued to repay the remainder at the same rate would have i lost out and paid more interest, or would it be approx the same.

thanks in advance
Andy

edinburgher

Andy,

That's a really detailed set of circumstances. It's well worth playing with the mortgage calculator on this site to look at possible figures.

Be sure to write everything down so that you're comparing like for like wherever possible, but you may wish to seek out advice from a dependable IFA as you have quite a few variables and options to consider.